In a bid to enhance the financial well-being of the Muslim community, Wakiso District Khadi, Sheikh Erias Kigozi, advocates for the establishment of savings and credit cooperative societies (Saccos).
Sheikh Kigozi emphasizes that only organized Muslim groups will receive priority in accessing interest-free loans from commercial banks offering Islamic banking products.
Salaam Bank, approved by the Bank of Uganda, is set to introduce Islamic banking in Uganda next year.
Expressing gratitude to President Museveni for approving Islamic Banking, Sheikh Kigozi urges Muslims to position themselves strategically to benefit from this banking system aligning with religious values.
During a visit to Mungu-Mugagga Mosque in Namayumba Town Council, Wakiso District, he stresses the importance of financial organization for the community’s prosperity.
The move comes as a response to reports from Namayumba Muslim leaders, highlighting financial challenges faced by local Imams.
Sheikh Abubakar Kyeyune reveals that despite efforts to generate income through projects like soap making and animal farming, there’s a need for additional funds to expand these initiatives.
Sheikh Kigozi discloses plans by the Uganda Muslim Supreme Council to provide vehicles to county sheikhs to facilitate their mobility, citing examples where Nansana and Masulita sheikhs have already received vehicles.
The community is encouraged to actively contribute to deciding the preferred class of vehicles for their respective sheikhs.
Addressing a plea from Mr. Nelson Kalyango Kasenene, the mayor of Namayumba Town Council, Sheikh Kigozi acknowledges the proposal for a Muslim skills training institute in Kakiri Muslim County.
A generous donor has offered free land for the institute, urging the Uganda Muslim Supreme Council and its partners to support and fund this crucial project.